Berry Wealth Group LP Sells 320 Shares of AbbVie Inc. (NYSE:ABBV)

Berry Wealth Group LP decreased its position in AbbVie Inc. (NYSE:ABBV) by 13.1% during the 4th quarter, Holdings Channel reports. The firm owned 2,128 shares of the company’s stock after selling 320 shares during the period. Berry Wealth Group LP’s holdings in AbbVie were worth $378,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Groupama Asset Managment grew its holdings in shares of AbbVie by 40.3% in the third quarter. Groupama Asset Managment now owns 135,749 shares of the company’s stock worth $27,000 after purchasing an additional 38,974 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new position in AbbVie during the 3rd quarter valued at $28,000. Fiduciary Advisors Inc. purchased a new position in AbbVie during the 4th quarter valued at $29,000. Retirement Wealth Solutions LLC purchased a new position in AbbVie during the 4th quarter valued at $35,000. Finally, Marquette Asset Management LLC purchased a new position in AbbVie during the 3rd quarter valued at $39,000. Institutional investors own 70.23% of the company’s stock.

AbbVie Price Performance

ABBV opened at $183.90 on Friday. The company has a debt-to-equity ratio of 9.64, a quick ratio of 0.54 and a current ratio of 0.65. The stock has a market capitalization of $324.98 billion, a P/E ratio of 63.85, a P/E/G ratio of 1.77 and a beta of 0.58. The company’s 50-day simple moving average is $176.57 and its two-hundred day simple moving average is $184.95. AbbVie Inc. has a 52-week low of $153.58 and a 52-week high of $207.32.

AbbVie (NYSE:ABBV) last posted its earnings results on Friday, January 31st. The company reported $2.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.82). AbbVie had a net margin of 9.22% and a return on equity of 244.01%. During the same quarter in the prior year, the firm posted $2.79 EPS. As a group, analysts predict that AbbVie Inc. will post 10.09 EPS for the current year.

Wall Street Analysts Forecast Growth

ABBV has been the topic of a number of research analyst reports. Argus raised shares of AbbVie from a “hold” rating to a “buy” rating in a research report on Monday, November 4th. Truist Financial reduced their price objective on shares of AbbVie from $215.00 to $211.00 and set a “buy” rating on the stock in a research report on Wednesday, January 8th. Sanford C. Bernstein began coverage on shares of AbbVie in a research report on Thursday, October 17th. They set a “market perform” rating and a $203.00 price objective on the stock. JPMorgan Chase & Co. reduced their target price on shares of AbbVie from $210.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Finally, Daiwa America downgraded shares of AbbVie from a “strong-buy” rating to a “hold” rating in a research report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $205.00.

Insider Transactions at AbbVie

In related news, SVP Kevin K. Buckbee sold 1,800 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $172.24, for a total transaction of $310,032.00. Following the completion of the transaction, the senior vice president now directly owns 6,983 shares in the company, valued at approximately $1,202,751.92. The trade was a 20.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

AbbVie Company Profile

AbbVie Inc discovers, develops, manufactures, and sells pharmaceuticals worldwide. The company offers Humira, an injection for autoimmune and intestinal Behçet's diseases, and pyoderma gangrenosum; Skyrizi to treat moderate to severe plaque psoriasis, psoriatic disease, and Crohn's disease; Rinvoq to treat rheumatoid and psoriatic arthritis, ankylosing spondylitis, atopic dermatitis, axial spondyloarthropathy, ulcerative colitis, and Crohn's disease; Imbruvica for the treatment of adult patients with blood cancers; Epkinly to treat lymphoma; Elahere to treat cancer; and Venclexta/Venclyxto to treat blood cancers.